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heterogeneity

Welfare and Environmental Impact of Incentive Based Conservation: Evidence from Kenyan Community Forest Associations

Boscow Okumu and Edwin Muchapondwa
This paper focuses on whether the provision of landless forest-adjacent communities with options to grow appropriate food crops inside forest reserves during early stages of reforestation programmes enable vertical transition of low income households and conserves forests. We consider the welfare...
Aug 2017
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Credit market heterogeneity, balance sheet (in) dependence, financial shocks

Chris Garbers and Guangling Liu
This paper presents a real business cycle model with financial frictions and two credit markets to investigate the qualitative and quantitative relevance of credit market heterogeneity. To address this line of inquiry we contrast the transmission of financial shocks in an economy where loans are...
Sep 2016
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